Shares in Metals companies rose sharply on Monday, as tensions between Russia and Ukraine are expected to make India's metal sector more appealing.

On Monday, the Nifty metal index increased by 5 percnet.Metal stocks soared on optimism that Russian exports will be restricted, allowing Indian steelmakers to gain market share," market analysts said.

Notably, Russia is a large producer of metals used in industry, such as aluminum and nickel.

Tata Steel closed 6.3 percent higher than its previous close, and Jindal Steel and Power settled 6 percent higher. JSW Steel climbed between 4.6 and 7.2 percent, while Hindalco Industries rose 7.2 percent. The stock prices of Steel Authority of India, National Aluminium Company, Vedanta, and Hindustan Copper all finished 3-5 percent higher.

On Indian share market front, The 30-share Sensex jumped 388.76 points, or 0.70 percent, to 56,247.28, while the wider NSE Nifty rose 135.50 points, or 0.81 percent, to  16,793.90. According to stock exchange data, foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 4,470.70 crore.

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